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Zurich Ezicover Income Protection

29 May 2017

What is Ezicover and what does it cover?

Ezicover is an income protection insurance policy from Zurich. Income protection is designed to ensure that you can continue to live life as you know it in the event of an injury or illness that prevents you from being able to work.

There are three different types of Ezicover income protection for you to choose from:

Ezicover Sickness and Injury. This is intended for people with full time employment, or contractors with consistent and regular income.

Ezicover Essentials. This option is intended for homemakers, casual employees and contractors or self-employed individuals with less consistent or reliable income.

Ezicover Injury Only. This special option is meant for people who have pre-existing medical conditions that might make them ineligible for typical income protection insurance plans.

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All Ezicover plans only protect against injuries and illnesses that prevent you from working, by paying either flat monthly benefits or 75% of your normal income. This is only applicable if you’re unable to work purely due to health issues. No other reasons are valid.

Ezicover includes certain features that are not typically part of normal income protection insurance plans. The Essentials and Injury Only policies are available to people who might not be eligible for most other income protection insurance plans, either due to a lack of consistent income or employment, or because of pre-existing medical conditions that make health issues more likely.

All three plans include:

Lump sum payments in the event of cancer, heart attack or stroke, without waiting periods, to help ease your immediate financial burdens. These are three of the most common serious health issues.

The first month of cover free, and you will not have to pay premiums while claiming benefits.

A $500 return to work benefit when your claim ends to help you cover costs associated with returning to employment.

Worldwide cover in any country, making Ezicover a good option for those who move frequently for work related purposes.

A 5.7% discount for annual subscriptions and a 5% discount if you also hold an Ezicover life insurance policy.

Additional options offered with Ezicover

All three Ezicover plans include optional extras that offer more flexibility. These can provide more benefits in exchange for a higher premium, or stricter coverage in exchange for a lower premium.

Inflation Protection: If your income increases to keep up with inflation, then you’re better off with an insurance policy that does the same. The Inflation Protection option will increase your benefits paid in line with the consumer price index up to a maximum of 3% per annum. This will also increase your premium.

Flexible coverage plans: If your income has been reduced, you can reduce your sum insured with the Reducing Income feature, or temporarily put your cover on hold with the Premium Holiday feature. These features reduce your payments and temporarily suspend them respectively.

All three Ezicover plans pay benefits to you, the account holder, monthly, starting 15 days after the waiting period ends. All benefits will be continue to be paid until you either reach the end of the benefit period, you are able to return to work (or, in the case of Essentials, when you are able to perform daily duties once again), or you are no longer under the care of a medical practitioner who’s treating your illness or injury. If the policy expires or you pass away while claiming benefits, the payments will also stop.

Am I eligible for Ezicover income protection insurance?

In order to be eligible for Ezicover you must be between 19 and 60 years old and living in Australia on a permanent basis, either as a citizen or a permanent resident. Beyond this, each of the three Ezicover packages has different requirements.

Ezicover Sickness and Injury: You must be permanently employed and working more than 20 hours per week, or you must be a contractor/self-employed person who has been in the same business for more than 12 months.

Ezicover Essentials: You are eligible if you are in a job without regular pay, a homemaker or a casual employee. You must be working fewer than 20 hours per week and making less than $16,000 per year. You are also eligible if you are a contractor or self-employed person who has been in the same business for less than 12 months.

Ezicover Injury Only: This insurance has the same requirements as Ezicover Sickness and Injury, but is for people with medical conditions that exclude them from that option.

How much will my premiums cost?

Your exact premium depends on the type of income protection insurance you have, and whether you’re eligible for any discounts. The following factors all have an impact on your premiums:

Level of cover. The higher your monthly benefit, the higher your premiums. In almost all cases this is simply another way of saying that the more you earn, the higher your premiums will be.

Age. Premiums generally increase as you get older and more likely to suffer health issues.

Smoking vs non-smoking. Smokers are at higher risk of health issues and will have higher premiums.

Your occupation. Occupations with higher risk levels or more physical intensity will have higher premiums.

Your health. Premiums may be higher for people with certain ongoing health issues, or a history of injury or illness.

Hobbies and pastimes. Premiums are higher for people who do more dangerous or hazardous sports and activities.

The benefit period. Longer benefit periods (the maximum amount of time that you can continuously claim benefits for) will have higher premiums.

The waiting period. Shorter waiting periods have higher premiums.

Any tax requirements or stamp duty charged by state governments will be reflected in increased premiums.

What is not covered by Ezicover income protection insurance?

Even though they may qualify as injury, illness or other loss of income, certain situations are not covered by Ezicover. These are:

Mental health disorders.

Self-inflicted or intentional injuries, or attempted suicide.

Uncomplicated pregnancy or childbirth. Health issues arising from complications, however, are covered.

Acts of war, whether declared or not.

Injuries or illnesses that result from illicit drug use or criminal activities.

Incarceration or lawful detainment.

Elective surgery, unless it results in you being disabled and unable to work for more than 90 days.

Any sickness or injury that resulted from elective surgery or donor transplant surgery within 90 days of the start of or reinstatement of the policy.

Anything that happens in another country if the Australian government has officially advised against travelling to that country.

Any exclusion or condition that you agree to at the time of application. These will be specifically noted in writing on your insurance policy.

Ezicover FAQs

Q. What exactly are “home duties” in the Ezicover Essentials policy?

A. In order to qualify as disabled under the Essentials policy, you must be unable to perform at least three of the following things without assistance:

-Cooking meals with utensils, appliances and kitchen equipment.

-Cleaning the house with equipment like vacuums or mops.

-Shopping for household items like groceries, and being unable to use a shopping basket or trolley.

-Driving a car or using public transport without assistance

-Caring for children or dependent adults.

You must also be under the regular care of, and following the advice of, a medical practitioner for treatment of your injury or illness

Q. How exactly does the waiting period work?

A. The waiting period is the minimum amount of time that you must be disabled before you can claim benefits. So if your waiting period is 30 days, you must be disabled for 30 days before you can apply for benefits. After that it will be 15 days before you receive your first payment. If you return to work for less than 5 days during the waiting period, but then become unable to work again, the waiting period will not restart.

Q. Can Zurich discontinue my policy whenever they want?

A. No. If you are meeting your obligations and keeping up with your payments, then Zurich must maintain your policy. They cannot cancel it without good reason.

Q. When does my cover start?

A. Your cover will have an official start date as laid out in your insurance policy document.

Q. When does my cover end?

A. It ends on the policy anniversary following your 65th birthday, so either a month or a year after you turn 65. It will also end if you die.

Q. What happens if I stop making my payments?

A. If you don’t pay your premiums within 30 days of their due date, Zurich will cancel your policy.

Q. How do I cancel my policy?

A. To cancel your policy, inform Zurich of your intention in writing. As soon as they receive it, your policy is officially cancelled.

Navy Health is a not-for-profit fund providing great value health cover to the Australian Defence Force community. Read here about the extra benefits they offer their members, including access to a wide range of other insurances.

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